One of the most important choices Ohio residents will have to make about an estate plan is who will serve as executor. The executor will be responsible for handling all of the estate owner’s affairs after death. If an estate owner dies without a will specifying an executor, an administrator will be designated by the probate court.
The executor or administrator will have multiple duties, such as sending notices to creditors and beneficiaries, inventorying the decedent’s assets, paying the estate liabilities and distributing the assets to the appropriate beneficiaries.
In situations where the executor is also named as a beneficiary in the will, they will still be required to perform their duties according to the will’s provisions. The executor is responsible for filing the will with the state court and advising all interested third parties that the estate owner has died. In addition to verifying debts and locating assets, the executor will be responsible before managing any assets until they have been distributed and appearing on behalf of the estate in any court proceedings.
Depending on the manner in which the assets were titled and the size of the estate, the will may have to be probated. The executor must file the will with the court to begin the probate process. After the executor is named the legal representative of the estate, they’ll have to comply with the provisions of the will, distribute the decedent’s property and satisfy all the estate’s outstanding debts.
An attorney who offers estate administration and probate law services may help clients address any probate issues that may arise. Legal counsel could assist with notifying beneficiaries and addressing any disputes regarding the contents of the will during probate proceedings.